The Following Table Shows the Number of U

question 135

Multiple Choice

The following table shows the number of U.S. dollars required to buy one British pound between September 3, 2012, and April 1, 2013. Use this table to answer the questions that follow.

-Between October 1,2012,and November 1,2012,the U.S.dollar ________ against the British pound,and the British pound ________ against the U.S.dollar.

• A) depreciated; appreciated
• B) appreciated; depreciated
• C) neither appreciated nor depreciated; depreciated
• D) depreciated; neither appreciated nor depreciated
• E) neither appreciated nor depreciated; neither appreciated nor depreciated

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Definitions:

Prepaid Insurance

The cost of insurance premiums that have been paid in advance for future coverage, recorded as an asset on the balance sheet.

Accounts Receivable

Receivables from customers for goods or services that have been used or delivered, but remain unpaid.

Insurance Expense

The cost incurred by a business or individual for purchasing insurance coverage, recognized as an expense in financial statements.

Trial Balance

A report listing all the balances in each general ledger account, ensuring debits equal credits for accuracy in accounting.